Helion leads $5m round for Indian shopping app
Indian fashion discovery and shopping app Wooplr has managed to raise $5 million in a Series A round of funding led by Helion Venture Partners.
The Bangalore-based start-up was founded by ex-McAfee employees Arjun Zacharia, Soumen Sarkar, Praveen Rajaretnam and Ankit Sabharwal, and launched the first version of its app in December, 2013.
This latest investment comes after company previously raised $225,000 from a group of angel investors including Rahul Khanna, Sunil Kalra, Vivek Pandit and Jaspreet Bindra.
The app analyzes the user's interests, location, and social circle to help them decide on what to shop and where to buy it. In doing this it offers each user a personalized feed of curated products.
According to a release, this latest injection of capital will be used to hire talent and expand the team. Rahul Chandra, co-founder and managing director for Helion Ventures will join the company board.
"Wooplr's offering is well-timed with the rapidly increasing demand for solutions in m-commerce that brings together both, online and offline retailers on a common platform," said Chandra. "We believe the market will continue to see a shift towards m-commerce." he added.
Set up in 2006, Helion focuses on technology and technology-powered businesses in e-commerce, online services, mobility, enterprise software and outsourcing. It has over $600 million under management; previous portfolio companies include MakeMyTrip, RedBus, TaxiForSure, YepMe, Ezetap and others.
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